Merrill's Thain Gets $2.6 Million in Stock, Plus Options
By: Reuters
Merrill Lynch's new Chief Executive John Thain has received about $2.6 million in restricted stock and nearly 43,000 options to replace shares he forfeited by leaving NYSE Euronext, according to U.S. regulatory filings.
Thain, who became Merrill chairman and CEO on Dec. 1, gets 46,304 shares of Merrill restricted stock that will vest over the next three years. Thain also received 42,815 stock options to replace forfeited NYSE Euronext stock-based compensation.
Thain's replacement shares are in addition to the 500,000 restricted shares and 1.8 million stock options he received for joining Merrill.
His signing bonus was $15 million.
Merrill shares, down 39 percent this year, closed on Tuesday at $57.13.
Merrill Lynch's new Chief Executive John Thain has received about $2.6 million in restricted stock and nearly 43,000 options to replace shares he forfeited by leaving NYSE Euronext, according to U.S. regulatory filings.